Unemployment in Brazil climbs to 12.6 pct

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Brazil, Feb-25-2017 | Unemployment rate in Brazil rose to 12.6 percent by the end of last month, which means around 12.9 million people are out of work, the government announced Friday.

The Brazilian Institute of Geography and Statistics (IBGE) reported that in the reference period (November-January), the unemployment rate increased compared to the same period last year, when it reached 9.5 percent.

The indicator also showed a rise over the previous mobile quarter (August-October) when the unemployment rate was 11.8 percent.From November to January, the unemployed population was 7.3 percent higher than those registered between August and October 2016, as well as 34.3 percent more than in the period from November 2015 and January 2016.

According to IBGE, the average salary of Brazilian workers between November and January was 2,056 reais (about 661 U.S. dollars).The growth of unemployment is a product of Brazil’s deep economic recession, which led its economy to contract by 3.8 percent in 2015.

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